Tuesday, February 10, 2009

Information Technology – Surviving Slowdown

Information Technology - Surviving Slowdown

Recession is the word gaining prominence across the globe slowly but steadily, there by passing an underlying message of the seriousness of the issue to be more severe as the days pass in the calendar year of 2009. Recession which has shown its signs in the mid 2008 has taken its toll particularly on the Information Technology sector and other sectors.

The signs of recession to the common man are non availability of liquidated funds, job threat and rise in prices of essential commodities. Hence amid such a commotion all over the world to meet the challenge of recession, the thought in the minds of an expert related to Information Technology is that did recession really impact on the Information Technology sector. If yes how much is it affected…and so on.

We need to face it, fight it and survive it smartly. That’s how companies globally are wielding action in the Recession war. Some ways out have been presented here to tackle the recession war as a lot has been discussed, speculated, dissected and wept upon when it comes to slowdown and its impact on the IT Service industry. But what's happening on the other side of the coin and how few companies are still very successful is the subject of discussion.

Yes. It is by and large easily agreed beyond any debate that Economic situation is tight and most of the customers globally are US-based. With the overall slowdown of market conditions, we have seen many complications like cost-reduction, job cuts and suspended decisions since mid-2008. Few Survival points are mentioned here in this article.

Meet the customer; assure them that you stand by them in times of crisis and at the need of the hour. The idea is not to burden existing customers as panicked vendors start chasing new customers to pile up revenues. This is the most appropriate time to show your loyalty towards your existing customers. This attitude drives home more benefits then expected.The entire concept behind this if you meet a friend in parties or happy times, be does not tend to remember long, if you make a visit in times of his sickness or help him in tough times he would reciprocate long.

The situation demands more of win-win situation. Though we often work for a win-win situation, this concept becomes more visible now. We need to reassure customers that we are together.

Secondly, Find out about their plans ahead. As a lot of opportunities become only visible in such times. Every CEO in this situation is looks for ways to improve their situation hence opportunities can be created. We need to contribute our best at a low cost as its relation which is more important then revenue given the situation. If our customers win, we win too.

It is exactly at this point of time instead of creating commotion all over about recession and searching for new clients, we can provide excellent support in the need of the hour without thinking much about the revenues for now and service the clients with much vigor, we shall be converting the short term customers into long lasting relation for the long term. In a way we need to sow our field now for the long term reaps.

Infact recession is an opportunity in disguise for the people who view it beyond a certain extent. One thing we know for sure is this shall end one day in the future. As you know you would be on a back foot inspite of your best efforts, hence its best to use this time as a platform to build up things on that day when recession ends in future. Also tough times force companies and customers realize who they are and what they are reflecting upon their abilities and capabilities.

We believe its time to act, rather than cursing the bad times, let’s build a platform for the beautiful days to come. Beautiful days are sure to come by when the recession ends, but how ready are you to meet the good times are is much defined in this hour of crisis.Please post more of your views in regards to surviving slowdown.